China QFLP scheme no free pass for foreign private equity
US dollar private-equity GPs and LPs fret about the explosion of Chinese RMB-denominated funds, but experienced players see upside too.
Anthony Zhao, senior partner at law firm Zhong Lun, disappointed an audience of private-equity professionals yesterday in Hong Kong by quashing rumours that a new pilot programme in China would show US dollar-based investors a route to being treated on par with domestic investors.
Under ‘QFLP’, a scheme for qualified foreign limited partners to convert investments into renminbi that’s just been launched in Shanghai, any fund with any foreign investor, no matter how small a portion of …
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